Lease
types
Absolute
Triple Net (NNN)
The tenant pays operating expenses such as maintenance, repairs,
taxes and replacement for the entire property, without limitation. The owners
pay the mortgage only. This is the type of lease that most investors expect
when purchasing NNN Properties.
Bond Lease (NNN)
A bond lease is a slight variation on the true triple NNN lease
because the tenant is required to absolutely comply with their rent and
operating expense obligations regardless of extenuating circumstances affecting
the property (i.e. Even if the property is under eminent domain proceedings).
Double Net Lease (NN)
Similar to NNN leases but with additional owner responsibilities.
The owner is generally liable for the structural components of the building
such as the roof, foundation, load-bearing walls and parking. Leases will vary
so they should be carefully read.
J. Michael Sigrist
Compass Investment Properties, Inc.
861 W. Morse Blvd. #250
Winter Park, Fl. 32789
Office 407-647-5111
Fax 407-629-9220
Cell 407-953-2605
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